July 14, 2026

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Wells Fargo & Company (NYSE: WFC) reported second-quarter 2026 results above expectations, supported by higher revenue, stronger net income, loan and deposit growth, improved returns, and continued share repurchases.
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Wells Fargo is a major U.S. financial services company that provides consumer banking, commercial banking, corporate and investment banking, wealth management, mortgage, lending, and investment services.
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The dashboard showed EPS of $1.96, above estimates of $1.73, representing a 13.3% earnings surprise. Wells Fargo reported diluted EPS of $2.00 in its release, which included a $0.04 per share discrete tax benefit.

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Results Showed Higher Revenue and Profit

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Total revenue increased 9% to $22.62 billion from $20.82 billion a year earlier.
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Net income increased to $6.41 billion from $5.49 billion in the prior-year quarter.
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Diluted EPS rose 25% to $2.00 from $1.60 a year earlier.
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Net interest income increased 5% to $12.32 billion, helped by lower deposit costs, higher loan and investment securities balances, and balance sheet growth in the Markets business.
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Noninterest income increased 13% to $10.31 billion, supported by venture capital investments, higher investment advisory fees, higher investment banking fees, and growth across most other fee categories.

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Loans, Deposits and Credit Trends Improved

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Average loans increased 12% year-over-year to $1.03 trillion.
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Average deposits increased 10% to $1.47 trillion.
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Net charge-offs declined to $883 million from $997 million a year earlier.
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Provision for credit losses was $914 million, down from $1.01 billion in the prior-year quarter.
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Return on equity improved to 15.0%, while return on average tangible common equity rose to 17.7%.

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Segment Growth Was Broad-Based

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Consumer Banking and Lending revenue increased 6%, supported by higher deposit and loan balances, wider deposit spreads, higher deposit-related fees, debit card fee growth, and investment advisory fee growth.
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Commercial Banking revenue increased 6%, helped by higher loan and interest-bearing deposit balances and stronger noninterest income.
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Corporate and Investment Banking revenue increased 16%, with Banking revenue up 20% and Markets revenue up 24%.
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Wealth and Investment Management revenue increased 13%, supported by higher net interest income and higher investment advisory fees.

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Buybacks and Dividend Increase

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Wells Fargo repurchased 37.4 million shares, or $3.0 billion of common stock, during the second quarter.
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For the first half of 2026, the company repurchased about $7.0 billion of common stock.
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Management also said Wells Fargo expects to raise its third-quarter common stock dividend by 11% to $0.50 per share, subject to board approval.

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Market Focus

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Investors are likely watching loan growth, deposit growth, net interest income, credit quality, efficiency improvements, capital returns, dividend growth, Corporate and Investment Banking momentum, and whether Wells Fargo can keep expanding after years of balance sheet constraints.
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The earnings beat was positive, but the bigger signal was broad-based revenue growth across all operating segments.

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The Bigger Picture

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Wells Fargo delivered a stronger quarter as revenue, earnings, loans, deposits, and returns all improved.
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The bank benefited from stronger customer activity, balance sheet growth, disciplined expenses, lower charge-offs, and rising fee income. Management also pointed to stronger consumer and business conditions, while continuing to return capital through buybacks and a planned dividend increase.
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The key question is whether Wells Fargo can sustain this growth while staying selective on risk if economic conditions become less favorable.
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